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AGREEMENT FOR PURCHASE AND SALE <br />AND JOINT ESCROW INSTRUCTIONS <br />This AGREEMENT FOR PURCHASE AND SALE AND JOINT ESCROW INSTRUCTIONS <br />("Agreement") is entered into by and between the City of Colton, a California municipal <br />corporation ("Buyer"), and Arek Balci ("Seller"). Buyer and Seller are sometimes individually <br />referred to herein as "Party" and collectively as "Parties". The Parties have executed this <br />Agreement on the dates set forth below next to their respective signatures. This Agreement shall <br />be effective on the date that this Agreement has been approved by Buyer's governing body or its <br />delegated representative and signed by all Parties ("Effective Date"). <br />RECITALS <br />A. Seller is the owner of certain real property commonly known as vacant land bearing <br />Assessor's Parcel Number 0163-362-26, located in the City of Colton, County of San <br />Bernardino, State of California and more fully described in EXHIBIT A attached <br />hereto and incorporated herein by reference (the "Property"). <br />B. City desires to purchase the Property from Seller for public purposes; and more <br />specifically, as an integral part for the development of Colton's Sports Park Complex. <br />TERMS <br />NOW THEREFORE, in consideration of the above facts and for the covenants and <br />agreements contained herein, the Buyer and Seller agree as follows: <br />1. PURCHASE AND SALE. <br />1.1 Property. Buyer agrees to purchase the Seller's fee interest in the <br />Property, and Seller agrees to sell their fee interests in the Property to Buyer, upon the terms and <br />provisions set forth in this Agreement. <br />1.2 Purchase Price. The total purchase price for the Seller's interest in the <br />Property is the sum of Sixty Five Thousand Dollars and No Cents ($65,000.00) ("Purchase <br />Price"), which includes, without limitation, full payment of just compensation, relocation <br />benefits, leasehold bonus value, attorneys' fees, costs, interest, and damages in complete <br />settlement of all claims (known and unknown), causes of action and demands of Seller against <br />Buyer because of Buyer's purchase of the Property or ownership of an interest in the Property, <br />and for any and all claims (known and unknown) arising from or relating to the purchase and <br />sale which is the subject of this Agreement. <br />1.3 Payment of Purchase Price. At the Close of Escrow (defined below), <br />Buyer shall pay to Seller through escrow the Purchase Price, payable in cash, by cashier's or <br />certified check or by wire transfer. <br />2. ESCROW. <br />23152.06319\29248878.1 <br />